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What is DAI ?

DAI is a decentralized USD stablecoin issued by the Maker Protocol. DAI is the first and largest USD pegged decentralized stablecoin issued by the Maker protocol with a total circulating supply over 100 million. Anyone can issue DAI by collateralizing ETH, BAT, USDC, WBTC and pay a certain amount of interest(0% for now, ~4% in the past). DAI is listed in CEXes like Coinbase and OKEx and almost all DEXes with up to 5 million daily on-chain trading vol. Users can use DAI for leverage exchange and earning interest. Users can repeatedly collateralize their tokens to borrow DAI then use DAI to rebuy tokens. Alternatively, users can deposit their DAI in the 3rd-party lending platform to earn interest(~2%). Maker has also supported DSR(DAOI savings rate) with a manual adjusted interest rate as a part of its crypto policy, which is different from other lending platforms. **DAI is one of the few stablecoins that don not have admin privileges** which brings more confidence to DAI holders as no one can freeze their accounts.

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